Adani Enterprises Limited on January 2 announced the launch of its third public issue of secured, rated, listed non-convertible debentures (NCDs), with a total issue size of Rs 1,000 crore.
The issue comprises a base size of Rs 500 crore along with a green shoe option of up to Rs 500 crore. According to the company’s media release, the NCD issue will open on January 6, 2026, and close on January 19, 2026, subject to early closure or extension .
The NCDs offer effective yields of up to 8.90% per annum, depending on the chosen tenure and interest payment option. The instruments have been rated ‘AA-’ with a Stable outlook by both ICRA Limited and CARE Ratings Limited, indicating a high degree of safety regarding timely servicing of financial obligations .
The public issue includes tenors of 24 months, 36 months, and 60 months, with options for quarterly, annual, and cumulative interest payments across eight different series. Each NCD has a face value of Rs 1,000, with a minimum application size of Rs 10,000 .
Adani Enterprises stated that at least 75% of the proceeds from the issue will be utilised for repayment or prepayment of existing indebtedness, while the remaining portion will be used for general corporate purposes .
Commenting on the launch, Group CFO Jugeshinder ‘Robbie’ Singh said the issue reflects the company’s intent to broaden retail participation in India’s infrastructure growth journey. He also highlighted the strong response to the company’s previous NCD issuances, including the Rs 1,000-crore issue launched in July last year, which was fully subscribed within hours on the first day .
Adani Enterprises further highlighted recent operational milestones, including the commencement of operations at Navi Mumbai International Airport, progress on road projects under the hybrid annuity model, and a strategic partnership with Google and AdaniConnex for developing AI data centre infrastructure in India .
The NCD issue will be managed by Nuvama Wealth Management, Trust Investment Advisors, and Tipsons Consultancy Services, and the debentures are proposed to be listed on both BSE and NSE .
